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Assets, profits of top 4 business groups rise, but employment stays flat

Published: 20 May. 2025, 10:52 Updated: 20 May. 2025, 14:30

A Samsung flag flutters in the wind outside Samsung Electronics' Seocho office building in Seocho District, southern Seoul, on April 30. [NEWS1]

Korea's top four business groups — Samsung, SK, Hyundai Motor and LG — have seen significant growth in assets and net profits over the past three years but little change in employment levels, a market tracker said Tuesday.

The combined assets of the top four business groups totaled 1,444.8 trillion won ($1,039 billion) in 2024, up from 1,360 trillion won in 2023 and 1,255.7 trillion won in 2022, according to the Leaders Index.

Their assets have been on a steady rise since topping the 1,000 trillion-won mark in 2019.

The big four's combined assets accounted for 53.1 percent of the total assets held by the country's 30 largest conglomerates in 2024.

Their net profit also soared 30.8 percent over the 2022-2024 period, while the top 30's net profit edged up 0.8 percent.

However, the Leaders Index noted that the increase in assets and profits has not led to a parallel rise in hiring.

The number of employees in the top four groups remained nearly unchanged, rising from 745,000 in 2022 to 746,000 in 2024.

The 30 largest groups, on the other hand, saw their total number of employees increase by 8.8 percent over the period, from 1.4 million to 1.52 million.

Yonhap